Hello Group Reports Decline in 2024 Financial Results Amidst Market Challenges

Hello Group ( (MOMO) ) just unveiled an update.

Hello Group Inc. reported a decline in financial performance for the fourth quarter and full year of 2024, with net revenues decreasing by 12.2% and 12.0% respectively, compared to the previous year. The company faced challenges such as reduced user engagement and a decrease in paying users on its platforms, Momo and Tantan. Despite these setbacks, Hello Group’s CEO highlighted the company’s resilience in navigating external uncertainties and emphasized the continued productivity of its core business and the growth potential in international markets.

More about Hello Group

Hello Group Inc. is a prominent player in China’s online social networking industry, primarily offering social networking services through its Momo and Tantan apps. The company focuses on enhancing user engagement and expanding its market presence both domestically and internationally.

YTD Price Performance: 0.41%

Average Trading Volume: 973,820

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $1.28B

For detailed information about MOMO stock, go to TipRanks’ Stock Analysis page.